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Florida Multi-Member LLC Operating Agreement Form

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The Florida multi-member LLC operating agreement is a legal document that will place members in a position of implementing procedures and policies that all members shall once be agreed upon and signed, shall follow in a uniform fashion that will keep the company running smoothly between the managing-member management.

The state of Florida does not require that any business have this document in place, however, by the implementation of the document, all member’s private assets would be protected from collection in the event of litigation, bankruptcy or business failure. With this document in place, the members will also benefit from certain tax advantages.

Members would be advised to review the document to ensure that there is a clear understanding of all aspects of the document. If there would be any portion of the document that would be questionable, the member(s) may wish to consult with an attorney for a clearer understanding of the requirements of the document. Signatures applied to this document must be applied in service of a state Notary Public in order to become effective.

How to Write

Step 1 – Download the form and enter the name of the company into the first line at the top of the page

Step 2 – The Operating Agreement – Submit the following information:

  • Enter the date in which the document shall become effective, in mm/dd/yyyy format
  • Enter the names of all members of the company

Step 3 – The Company – All members must carefully read the following titles, entering any required information, as follows:

Formation –

  • Enter the effective date in which the members shall form the entity, in mm/dd/yyyy format
  • Provide the company name
  • Enter the name of the company for which business shall be conducted

Name –

  • Enter the name of the company in which the principal business shall be conducted (members must unanimously agree)
  • Purpose – Review the statement under this title

Office –

  • Provide the complete, physical address where the company shall maintain the principal business

Registered Agent –

  • Submit the full name of the agent that was initially registered
  • Submit the registered office address

Term –

  • Provide the date that the company shall commence, in mm/dd/yyyy format

Review the final two titles as follows:

  • Names and Addresses of Members
  • Admission of Additional Members

Step 4 –Titled Sections and Subsections – All members must carefully review all of the following sections and stated subsections:

  • Salaries, Reimbursement, and Payment of Expenses (subsections 6.1 through 6.3)
  • Books of Account, Accounting Reports, Tax Returns, Fiscal Year, Banking (review subsections 7.1 through 7.4)
  • Transfer of Membership Interest – 8.1 and 8.2 (subsections 8.2.1 through 8.2.5) – also, 8.4 (subsection 8.4.1) as well, 8.5 Death Buy Out (subsections 8.5.1 through 8.5.5)
  • Dissolution – Review 9.1 (and subsections 9.1.1 through 9.1.4), also 9.2 (and subsections 9.2.1 through 9.2.3

Step 5 – General Provisions – Carefully review all information in this section:

  • Amendments
  • Governing Law
  • Entire Agreement; Modification
  • Attorney Fees
  • Further Effect
  • Severability
  • Captions
  • Notices

Step 6 – Required Documents, Member’s Signatures, Notarization – All members, must apply signatures to the remaining documentation, in the presence of a Notary Public only –

  • Type or Print Member’s names
  • Members must provide their respective signatures

Listing of Members – Schedule 1 –

  • Enter the name of the company in the line at the top of the page
  • Submit the date, in dd/m/year format, in which the members’ list is created
  • Provide the names of all members
  • Provide the complete addresses of each member
  • Print or type member’s names
  • Members must provide signatures

Listing of Capital Contributions -Schedule 2 –

  • Enter the name of the company into the first line of the page
  • Submit the member’s names (respective)
  • Submit each member’s contribution (there is a $100.00 minimum, but no further obligation to offer further contribution)
  • Submit each member’s percentage of ownership
  • Enter the date of member’s agreement, in dd/m/.yy format
  • All members must type or print their names
  • All members must apply signatures

Listing of Valuation of Members Interest – Schedule 3 –

  • Submit the name of the company at the top of the form
  • Enter the member’s name
  • Enter the amount of the member’s Valuation Endorsement
  • Enter the date of the member’s signatures to the document, in dd/m/yy format
  • Print or type the member’s name
  • The members must enter their signatures

Step 7 – Notarization –

  • Once all members signatures have been witnessed by the notary public, the notary shall complete the section, acknowledging the member’s signatures. The notary shall enter their own signature and affix the notary seal.

When the document has been completed, signed and acknowledged, copies must be provided to the individual members to store with their own records.

 


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